Natural Resource Partners (NYSE: NRP) grants 7,938 phantom units to CEO

Rhea-AI Filing Summary

Natural Resource Partners reported that Chairman and CEO Corbin J. Robertson Jr. received an award of 7,938 phantom units on February 4, 2026 under the issuer's 2017 Long-Term Incentive Plan. Each phantom unit represents the right to receive one common unit upon vesting and accumulates cash distributions over the vesting period. The phantom units vest in three substantially equal annual installments beginning on February 4, 2027. Following this grant, Robertson beneficially owns 7,938 derivative securities directly.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider ROBERTSON CORBIN J JR

Role Chairman and CEO

Type	Security	Shares	Price	Value
Grant/Award	PHANTOM UNITS	7,938	$0.00	--

Holdings After Transaction: PHANTOM UNITS — 7,938 shares (Direct)

Footnotes (1)

1. Represents phantom units awarded under the issuer's 2017 Long-Term Incentive Plan. Each phantom unit represents the right to receive one common unit upon vesting and includes the right to receive tandem distribution equivalent rights, pursuant to which the quarterly distributions paid by the partnership on each unit will be accrued over the vesting period and paid in cash upon vesting. The phantom units will vest in three substantially equal annual installments beginning on February 4, 2027.

Form 4 Insider Transactions: What Each Field Means →

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

ROBERTSON CORBIN J JR

(Last) (First) (Middle)

1415 LOUISIANA STREET, SUITE 2400

(Street)

HOUSTON TX 77002

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
NATURAL RESOURCE PARTNERS LP [ NRP ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director	X	10% Owner
X	Officer (give title below)		Other (specify below)
	Chairman and CEO

3. Date of Earliest Transaction (Month/Day/Year)
02/04/2026

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
PHANTOM UNITS(1)	(1)	02/04/2026		A		7,938		(2)	(2)	COMMON UNITS	7,938	$0	7,938	D

Explanation of Responses:

1. Represents phantom units awarded under the issuer's 2017 Long-Term Incentive Plan. Each phantom unit represents the right to receive one common unit upon vesting and includes the right to receive tandem distribution equivalent rights, pursuant to which the quarterly distributions paid by the partnership on each unit will be accrued over the vesting period and paid in cash upon vesting.

2. The phantom units will vest in three substantially equal annual installments beginning on February 4, 2027.

	/s/ CORBIN J ROBERTSON JR	02/06/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What insider transaction did NRP report for Corbin J. Robertson Jr.?

Natural Resource Partners reported a phantom unit grant to Chairman and CEO Corbin J. Robertson Jr. He received 7,938 phantom units on February 4, 2026 under the company’s 2017 Long-Term Incentive Plan, recorded as a derivative security acquisition at a price of $0 per unit.

How many phantom units were granted in the latest NRP Form 4 filing?

The Form 4 shows a grant of 7,938 phantom units to Chairman and CEO Corbin J. Robertson Jr. These units are reported as derivative securities, acquired on February 4, 2026, with 7,938 derivative securities beneficially owned directly after the transaction.

What does a phantom unit represent for NRP insiders?

Each phantom unit represents the right to receive one common unit upon vesting. It also includes tandem distribution equivalent rights, so quarterly distributions on each underlying unit are accrued during vesting and paid in cash when the phantom units vest.

When do the newly granted NRP phantom units begin vesting?

The phantom units begin vesting on February 4, 2027. According to the filing, they vest in three substantially equal annual installments starting on that date, aligning the award with a multi-year service and performance period for the reporting executive.

How are distribution equivalent rights handled for NRP phantom units?

Distribution equivalent rights accumulate during the vesting period. Quarterly distributions paid by the partnership on each corresponding common unit are accrued and then paid in cash to the holder when the associated phantom units vest under the long-term incentive plan.

What is the ownership status of the NRP phantom units after the transaction?

After the reported transaction, 7,938 derivative securities are beneficially owned by Corbin J. Robertson Jr. The filing shows these phantom units as directly owned, reflecting the full amount granted on February 4, 2026 under the incentive plan.